Amidst rising tensions with India, Pakistan has moved fresh Army troops to the Line of Control in Pakistan-occupied Kashmir and the international border with India to protect "vital points" along the frontier, a media report said on Friday.
The defence department declined to give details of fresh troop movements but did not deny reports that Pakistan was moving a number of new brigades to the frontier in the Lahore sector, the Daily Times newspaper reported quoting sources.
The forces were deployed along the LoC and the international border yesterday to protect vital points, the sources said.
The Pakistan Army's Brigade has been moved to forward areas in Lahore and army's 3rd Armoured Brigade, normally held in reserve, has been moved to Jhelum, the defence sources said claiming that there was a heavy concentration of Indian troops on the border.
The Pakistan Army's 10th and 11th Divisions have also been put on high alert and these forces have been stationed in areas facing Rajouri and Poonch sectors of Kashmir.
There have also been reports in the Pakistani media that the Pakistan Air Force is in a state of high alert and was conducting aerial surveillance of the Chashma power plant and other sensitive sites amidst fears of a possible surgical strike by India in the wake of the Mumbai terror attacks.
In recent public comments, Pakistan Prime Minister Yousuf Raza Gilani and his Indian counterpart Manmohan Singh have both ruled out a war between the two countries. India has been asking Pakistan to crack down on elements in the country which were linked to the Mumbai attacks that killed over 180 people.
Pakistan has said it is waiting for India to provide evidence to take forward its probe into the Mumbai incident.
Clean videos and better quality tomorrowAjay was seriously working on a project when his colleague Sandeep began reminding him about the deadline for it and even asked him to give a report on the status of the project. Ajay was surprised and even angry because he could not understand his colleague’s behaviour who was suddenly acting bossy with others in the team. The result was this behaviour was making everyone feel incompetent and controlled and was affecting the team relations.
Ajay’s is not an isolated case, there are people in the workplace who boss over their co-workers and feel it is necessary to tell them what to do and how. They effectively spoil the camaraderie in the workplace.
A boss can comment on your work and tell you what to do, but when a co-worker assumes the role of a boss and nitpicks on your work and orders you around, the situation is sticky.
Though you may be tempted to tell the person off or launch a counter attack, this will only spoil your relations with him and affect the work atmosphere and team productivity.
The wise thing would be to deal with your bossy co-worker in a professional and diplomatic way, so that the relationship is maintained and at the same time you can make him realise his mistake and also let your boss know about the colleague’s self-assumed importance.
Instead of answering back your colleague, you can make it difficult for him to play his role as self-appointed boss by enquiring if the boss asked him to give the instructions and if he says no then appreciate him for his managerial skills but at the same time remind him that your boss has to kept in the loop. Follow this up with a casual query or mail to your boss on whether the bossy co-worker was given supervisory responsibilities.
When the co-worker gets to know that his behaviour has been a subject of discussion with the boss, and then he will check himself. This will also give him enough hints that the team takes directions from the boss and are not willing to listen to him. This can effectively curtail his bossy behaviour.
However if your boss replies in the affirmative, you have no choice but to listen to your co-worker, but if it is a ‘no’ from your boss, then you can make a complaint to your boss.
This will also bring the co-worker’s behaviour to the notice of your boss who will probably take effective steps to stop it because of its negative effects on team relations.
In case your colleague has nothing to do with your work and each member in the team has his own independent set of roles and responsibilities, then you can tell him to mind his own work in front of other team members. This public display of your reaction can check his high-handedness with you and others in the team.
Some co-workers may have a genuine interest in the team and their behaviour may be motivated by the need to be helpful, proactive or supportive to other team members. They may not realise that this can alienate others. In such an instance, it is better that they are told the truth while appreciating the intent of their behaviour. A gentle reminder to the person that he is a peer and not your manager can end his bossy ways.
Perhaps the best way to deal with a bossy co-worker is to tell him that you are happy he has been promoted as the boss and you, your co-workers or even the boss does not seem to know about it. He is sure to get the message and will start minding his own business.
As businesses brace for a possible economic slowdown, they are expected to further slash unnecessary expenditure and bring down overheads to improve the bottom line. Trimmed down budgets and well-planned cost cutting initiatives can help create savings and optimise operating margins for companies that don’t have too many sources of revenue to look forward to, thanks to the global financial crunch.
Here are areas where businesses, big and small, can cut spending and create valuable cash reserves to tide over any impending crisis.
Realign goals: For example, the annual budget may need to be altered to cope with new circumstances, and expansion plans may be put on hold. Look for ways to release cash from capital. Unused/ high maintenance assets are usually the first to go in a bid to reduce operating costs and retain liquidity.
Cash requirements might also have to be carefully projected and closely monitored. Tighten conditions relating to cash and accounts receivables and negotiate for better deals with vendors and contractors.
Focus on work that counts. Fall back on your best, most dependable products and services, and aim to get more value for every penny you invest. Outsource non-essential processes if it will bring down costs and improve production and people practices to increase productivity levels and lower operating costs.
Go slow on hiring and layoffs. Going slow on hiring makes obvious sense, but layoffs are another matter altogether.
Although at first glance layoffs seem to offer a quick fix answer to cost control, the mid-term and long-term consequences of layoffs are disastrous. Look at your employees as assets, not overheads.
Train employees to improve their skills and utility ratio and acknowledge and reward deserving employees even if resources are scarce. This is the time for you to let your employees know that they make a difference.
Cut down on unnecessary costs and discretionary spending in areas like travel, entertainment, telephone calls and meetings. Tighten regulations and minimise cash advances. Institute stringent receipt requirements for all reimbursements. Offset expensive incidental benefits such as performance bonuses, high premium health benefits, stock options and legal assistance with other benefits that are easy on the pocket.
Conduct an energy audit. Even simple things like introducing energy efficient lighting, heating and cooling can make a big difference to running costs.
Ask employees for suggestions. Employees usually have a wealth of ideas, and tapping this powerful source can give the organisation some innovative and inspiring leads to keep costs under control.
Revaluate your strategy and decide on the how you are going tackle the situation. Revisit priorities and ensure that your team has a complete understanding of the contributions they are expected to deliver.
During a period of boom, companies often neglect to keep track of spiralling costs and wasteful expenditure. It may not have mattered then, but with economic challenges looming ahead, a little prudence will ensure that the organisation is able to sustain its effectiveness and profitability in the long run.
"The mapper spectrometer has beamed images of the Orientale Basin region of the moon, indicating abundance of iron-bearing minerals such as pyroxene. Using different wavelengths of light, the instrument has also revealed for the first time changes in rock and mineral composition," M3 principal investigator Carle Pieters said in a statement hosted on NASA Website.
Data from the 7-kg mapper provides space scientists first opportunity to examine lunar mineralogy at high spatial and spectral resolution.
The Orientale Basin is located on the moon's western limb. M3 captured the data last week when Chandrayaan was orbiting the moon at an altitude of 100 km.
"The imaging spectrometer provides us with compositional information across the moon that we have never had access to before. Our ability to identify and map the composition of the surface in geologic context provides a new level of detail needed to explore and understand the earth's nearest celestial neighbour," affirmed Pieters, who teaches at Brown University in Rhode Island.
The mapper was selected as a mission of opportunity through the NASA discovery programme. NASA's Jet Propulsion Laboratory designed and built the instrument at Pasadena in California.
"M3 will also help in characterising and mapping lunar minerals for knowing the moon's early geological evolution. Its compositional maps will improve our understanding of the early evolution of a differentiated planetary body and provide a high-resolution assessment of lunar resources," Chandrayaan project director M. Annadurai averred.
M3 is one of the 10 instruments onboard the unmanned Chandrayaan, conducting experiments while the spacecraft orbits over the moon next two years.
Five instruments were indigenously built by the state-run Indian Space Research Organisation (ISRO), while the remaining six payloads are of foreign origin, including three from the European Space Agency, two from NASA and one from Bulgaria.
Chandrayaan was launched on October 22 onboard the 316-tonne polar satellite launch vehicle (PSLV-C11) from ISRO's Satish Dhawan Space Centre at Sriharikota spaceport, about 80 km north of Chennai.
After traversing 3,84,000 km through the deep space for 18 days, the spacecraft entered the lunar orbit on November 8 and its moon impact probe was lowered on the moon's surface on November 14.
Wonder what makes some people highly successful than others in any given field? More often you attribute their unique way of connecting to others, better known as charisma, as responsible for the success they enjoy. You are right to an extent but charisma is not all, it is their ability to focus on the meaningful that gives them the winning edge.
Not many of us are lucky enough to possess such natural charm but we can still be as effective if we choose to hone certain skills that make a difference. Highly successful leaders understand that good communication is the key to success. They have an extraordinary talent of using the spoken word as well as body language to register the maximum impact on their audience.
Closely observe eminent people whom you consider success icons. Discover how skilfully they communicate. Their gift of the gab is awe inspiring but don’t simply stop at admiring them but try to learn a few techniques yourself. It is never too late to pick a few success tips. Great leaders connect instantly with their audience. They adjust their tone and approach to suit their audience’s emotional state. So it goes without saying that to be a good communicator you must first listen carefully to other’s concerns and empathise with them.
High impact leaders often use stories and anecdotes to make their viewpoint clear and emphatic. Communication doesn’t mean relaying lots of factual data. Punctuate it with emotion and symbols and you make it easy for your audience to interpret the information.
To sound effective and authentic always have forceful evidence on your fingertips to support your views. To convey confidence and command vary the pace and pitch of your talk. Be neither too slow nor too fast while you converse. A timely pause is essential to retain the attention of listeners. It helps them to understand and absorb what you said. It also helps you to stay focussed on the crux of the matter.
When in crisis great leaders seldom resort to the blame game; they honestly look for what went wrong and how to rectify things. Through their positive communication they bring forth favourable outcomes. While facing performance issues make it a point to go to the root of the problem. You may be tempted to chide your subordinates for the poor show but that will not help in improving things. Instead offer your support and encouragement to your team and better results will automatically follow.
Effective leaders communicate with a passion to get the best out of every opportunity that comes their way. They attract people with their crisp messages. You too can grab the attention of listeners if you are ready with your speech to suit the occasion. Be sure of your goals and practise conveying them in a nutshell. Highlight the promise of mutual benefit when you negotiate with others. People will listen to you when they see a benefit for themselves. Successful leaders acknowledge the importance of give and take in any relationship. So be ready to give the first concession to your opponents in order to secure much more in return.
Good leaders do not let anxiety overwhelm them; instead they adapt quickly to changes to move out of crisis. They owe their success mostly to asking the right questions.
Asking questions isn’t as simple as you believe it to be. First you must create a situation where people can speak without fear of reprisal. Challenging assumptions once in a while prevents you and your team from slipping into complacency. Encouragement to think on alternatives can lead to crucial breakthroughs.
Body language is equally important in garnering success. The way you conduct yourself signals to the world how energetic and confident you are. Stand straight, tuck your tummy in, hold your head high and smile radiantly at people around you. You already look like a winner and people are only too willing to rally behind a winner.
Don’t just communicate for communication’s sake. Verbal and non-verbal communication skills are powerful tools in your arsenal to create a positive impact on others. Make a conscious effort to master these skills that make a world of difference to your confidence and success levels.
| Notes that Kerala is more vulnerable to external shock |
Recession may hit job opportunities
Further cut in oil prices may have negative impact
Reduction in oil price and sustained low-level reduced investments in Gulf countries can have a negative impact on the job opportunities as well as the income of Non-Resident Keralites (NoRKs).
According to a study conducted by the Centre for Development Studies (CDS) on the impact of the economic recession in the State, Kerala is more vulnerable to any external shock, including the slowdown since it is integrated with the rest of the world.
In spite of the liquidity concerns about the banking sector of Saudi Arabia, United Arab Emirates (UAE) and Qatar, the economies of the seven Gulf countries, where majority of the NoRKs are located, continue to remain unaffected owing to the steps taken for improving the liquidity position.
But further reduction in oil price and investments can have a negative impact on the job opportunities and their income., the study says.
About 32,000 people employed in the coir industry are likely to lose jobs owing to 20 per cent decline in coir exports. The job loss in the cashew sector has been estimated at around 18,000 due to 15 per cent fall in exports and imports becoming costlier. Marine exports may go down by 25 to 30 per cent to all major destinations except South East Asia. In the short run, a one-third fall in exports can lead to a loss of 20,000 jobs in the sector.
Handloom units have reported 20 per cent dip in sales. A short-term reduction in export by 15 to 20 per cent is expected in handloom goods and that may further increase if the recession prolongs. The value and quantity of pepper export have come down by 50 per cent between September 2008 and the same month last year. The price of rubber has registered a 40 per decline due to the fall in demand from the tyre industry.
The major software export companies are yet to feel the pinch of the crisis but IT and ITES companies at the national level expect 50 per cent reduction in growth rate. The companies in the State have not yet got a full exposure to the crisis due to their relatively lesser engagement with financial services.
Being a consumer State, Kerala can benefit from the reduction in prices of oil, steel, cement and such others as it will also reflect in the cost of manufactured goods too. The growth rate of the State’s economy may decrease by 2 to 3 per cent and it can also lead to an increase in revenue deficit, the study says.
The feisty offspinner's Teflon-like ride mirrored India's season inside and outside the arena as cricket's commercial powerbroker flexed its considerable clout.
Just as the lucrative Indian Premier League and the numerous Twenty20 competitions that sprouted around it threatened to elevate the shortest form of the game to the highest standing in cricket, some tight Tests involving India, England, South Africa and Australia revived the five-day game.
Interest heightened when India's late successes over Australia and England, cricket's oldest powers, were sandwiched around terror attacks in Mumbai that killed 164 people and threatened to derail the game on the subcontinent.
The November attacks, in which a luxury hotel that frequently hosts international cricket teams was among the prime targets, sent the English squad packing for a week, caused the cancellation of the inaugural Champions League that was supposed to feature eight provincial teams from five countries and, inevitably, caused India's refusal to tour Pakistan next month.
The Indian government blamed Pakistan-based militants for the attacks.
So while India was able to lure England back this month for the Test series — after the English abandoned a limited-overs series they were losing 5-0 — with security assurances, it was not willing to reciprocate for neighboring Pakistan.
England was widely commended for returning to India, although former Pakistan captain Rashid Latif was outspoken in his criticism of both international and national administrators for what he thought were the double standards of encouraging tours to India while turning their backs on Pakistan due to safety fears.
But International Cricket Council president David Morgan said England's return, and it's subsequent six-wicket loss in the first Test in Chennai, continued "the feel-good factor around the longest form of the game".
Cricket "has probably never been stronger than it is right now with three viable and vibrant forms at international level, including the positive effect of Twenty20," Morgan said. "The Perth Test between Australia and South Africa has also produced some great cricket and (recent matches) have been a real reminder that Test cricket is the pinnacle of our sport with its unique ability to produce twists and turns and sustained drama."
Latif said India's status as the game's key market gave it the pulling power Pakistan lacked. The eight-nation Champions Trophy in Pakistan was postponed in September after five teams refused to tour.
"It's all about money and nothing else," Latif said. "If India didn't have the financial clout no team would bother to go there so soon after the Mumbai attacks."
Latif wasn't the only critic of India's cashed-up backers.
Sections of the media openly questioned who was running the sport when Harbhajan was let off a two-match ban on appeal in January after allegedly making a racist taunt against allrounder Andrew Symonds, the only black player on the Australian team.
That decision came amid Indian threats to boycott the remainder of the tour. The ICC also acquiesced to India's demands for veteran West Indies umpire Steve Bucknor to be removed from the series after making some incorrect decisions.
Harbhajan pleaded guilty to a lesser charge and was fined 50 percent of his match fee — he later served a five-match ODI ban for slapping a teammate in a domestic Twenty20 match.
Australia had won the disputed Sydney match to equal its world record of 16 consecutive Test wins and take a 2-0 lead in the four-match series, but lost the subsequent match in Perth and only narrowly held on to the series.
Symonds went to India in April as one of the highest-paid players in the inaugural IPL Twenty20 but was later dropped from the Australian lineup for going fishing instead of attending a team meeting in Darwin ahead of a limited-overs series against Bangladesh.
He said he felt let down by Cricket Australia's handling of the racism row and he missed the four-Test October tour to India which the home team won 2-0.
Harbhajan, who took 15 wickets in the series, ended with 63 Test wickets for the year, one behind South Africa paceman Dale Steyn as the most prolific wicket-taker to Christmas.
Over the course of India's last two series wins, Sachin Tendulkar became the leading runscorer of all time and Anil Kumble retired at No. 3 on the all-time Test wicket-takers list.
"We are working well as a unit... and we all enjoy the success of each other," said paceman Zaheer Khan, voted player of the series in the 1-0 win over England this week. "It's been a great year for Indian cricket."
Australia's position at No. 1 came under the most pressure in a decade with South Africa and India closing in.
The search for able replacements for legspinner Shane Warne and paceman Glenn McGrath — two of the leading wicket-takers of all time — has been slower than Australian selectors had hoped.
As it neared the end of a tumultuous year, a stuttering Australia bowling attack was unable to prevent resurgent South Africa chasing 414 to win last week's series-opening Test in Perth — the second-highest successful fourth-innings run chase in Test history.
It was South Africa's first Test victory in 14 years on Australian soil and put the hosts under enormous pressure in the series, having never won a three-Test series after losing the first match.
South Africa even had the chance to move to No. 1 in the rankings with a 3-0 series win in Australia, but it would need more history to achieve it. The Proteas have never won a series in Australia.
Three days after the World Bank decided to ban it for eight years, Satyam Computer Services [Get Quote] today hit back and demanded an apology from the bank for "certain inappropriate statements" made by its representatives.
In a statement issued on Thursday, India's fourth largest software services firm said the World Bank has been requested to immediately "withdraw those statements" for the harm done to the company. The company has demanded that the bank should provide it with a full explanation of the circumstances related to the inappropriate statements.
Satyam also said that it would evaluate all possible options in view of both the bank's inappropriate public statements and its response to the company's requests.
Satyam usually does not comment publicly on matters involving its customer relationships. "However, the inaccuracy and inappropriateness of the World Bank's public statements regarding Satyam has forced us to issue this brief statement in order to set the record straight," the company said.
The World Bank had barred Satyam from doing business with it for eight years, in one of the most severe penalties by a client against a large Indian outsourcing company. The bank said this is because Satyam had provided "improper benefits to bank staff" in exchange for contracts and a "lack of documentation" on invoices.
Since the World Bank decision on December 22, the company's scrip has slumped 16.90 per cent from Rs 162.40 to Rs 134.95.
The industry's reputation for maintaining high standards of corporate governance and data security is critical to ensure that it continues to attract the business of Fortune 500 clients, governments and multilateral agencies such as the World Bank.
The sanctions came at a bad time for Satyam, which is under fire over a failed attempt by its board to pay $1.6 billion for companies controlled by the family of B. Ramalinga Raju, its chairman, without seeking wider shareholder approval.
Since the World Bank decision on December 22, the company's scrip has slumped 16.90 per cent from Rs 162.40 to Rs 134.95. The company has lost 40 per cent of its market value since December 16 when it announced its decision to buy two Maytas companies.
We stand by our statement: World Bank
The World Bank on Thursday rejected Satyam Computers' demand to withdraw a statement by which an eight-year ban was imposed on any business with the IT major.
"The bank stands by its statement issued on its Indian website on December 23," the India spokesperson of the World Bank, Sudip Mazumder, told PTI.
Asked if the bank would apologise as demanded by Satyam, he said any comment if at all had to come from the headquarters in Washington, but the bank stood by its statement.
"The profile of those joining the militant group Lashkar-e-Taiba is changing," the Washington Times said citing Brig. Gen. Mahmood Shah, who served the Pakistani Army in the largely ungoverned tribal areas along Pakistan's porous border with Afghanistan.
"The big change is that until a few years back most of the militants were hailing from the [Afghan] frontier, but now the scenario has changed and young men from all over Pakistan are joining," Shah was quoted as saying in a report from Lahore.
A ripe breeding ground for the new militants is southern Punjab, he told the Washington Times. Since the school system in Punjab is better than in the tribal areas, most of the new entrants to militant groups are better educated, Shah said.
The only Mumbai attacker captured, Muhammed Amir Ajmal alias Kasab, had completed only the fourth grade, according to Indian and Pakistani press reports. But in a recent interview, a Kashmir-based LeT commander told the Times that members of the group include young men with master's degrees in business administration and bachelor's degrees in computer science.
The militant commander, who goes by the name Abu Aqasa, spoke by cell phone from Lahore and answered other questions in writing, the Times said.
"We have doctors and engineers and computer specialists working for us," he said. "These people don't necessarily fight wars with us. They mainly help us spread our message in cities and villages and also help us in our dispensaries, hospitals and other charitable works."
Abu Aqasa was quoted as saying the organisation uses educated people and especially those with good communications skills to recruit supporters in religious congregations. Once a young man has embraced the militants' ideology, he is inducted into the organisation and sent for further training.
An organiser for a Lahore-based religious organisation told the Times dire economic conditions are the main reason young, educated people are being attracted to militancy in Pakistan.
"People can't find jobs and have nothing to eat," said the man, who asked not to be identified to avoid attracting attention from the police.
"Families find it attractive that if one person is sent for jihad, then that means one less mouth to feed in their house."
Hundreds of thousands have joined the group in Pakistan-administered Kashmir and that while they have been affected by a government crackdown following the attacks in Mumbai, they are still going strong, he was quoted as saying.
Kashif Alam, senior superintendent of police in Peshawar, told the Times the profile of the average militant in that northwest Pakistani city near the border with Afghanistan has changed but that the number of educated Pakistanis was actually decreasing.
"We're seeing an increase in the number of criminals who are working for these militant organisations," he was quoted as saying. "More and more of their operations are being carried out by criminals. Some of the people we have captured were found with thousands of rupees in their pockets."
However, profiles of two would-be suicide bombers captured in the tribal areas and shown to the press contradicted Alam's views, the Times said.
Ali Raza, who surrendered to the police in November, was in his final year studying mass communications. In Dera Ismail Khan, a young man wearing a jacket loaded with explosives was intercepted inside a mosque. He was later found to have completed his high school matriculation.
Pakistan did not want war but is ready to defend its frontiers, Qureshi told reporters in his hometown of Multan. If India made the "mistake of carrying out a surgical strike", Pakistan will deal sternly with such an eventuality, he said. "We will be compelled to respond if it happens," he said.
Asked if the possibility of war could be ruled out amidst escalating tensions in the wake of the Mumbai terror attacks, Qureshi said: "If you are asking me, I am not ruling out anything. But if war is imposed, we will respond to it like a brave and self-respecting nation."
He added, "I want to give a message to India that we are the torch-bearers of peace and remain committed to our desire for peace...Contrary to our reasonable, cooperative and non-aggressive attitude, some elements from India are issuing provocative statements."
Regional tensions have escalated after India blamed Pakistan-based elements for the Mumbai terror attacks that killed over 180 people. India has asked for action against these elements, but Pakistan has been insisting that it needs evidence from India to take forward its investigation into the incident.
Qureshi said Pakistan condemns terrorism and wants to expose those involved in such activities. It has already promised cooperation to India in this regard, he said.
"We will not resort to provocation while remaining committed to cooperation but at the same time, we will not tolerate any pressure," he remarked. Pakistan, he said, should "hope for the best but be prepared for the worst".
The country and the armed forces are vigilant and keeping a close watch on developments. "The situation keeps changing and we will prepare a strategy after examining any change," Qureshi underlined. "We are continuously monitoring the situation on the ground and in the air. Our air force and armed forces are on alert."
Meanwhile, presidential spokesman Farhatullah Babar said "some elements in both India and Pakistan" did not want peace between the two neighbours.
"As Pakistan-India relations were improving...Mumbai happened. There are elements on both sides who not want Pakistan-India relations to improve. The Mumbai incident has occurred at that very moment when relations were not only improving but I think a strategic advancement was being made," he told Dawn News channel.
The two countries now have to decide whether the Mumbai incident "should be allowed to derail the peace process or be viewed as an obvious challenge to the process".
He added, "The government of Pakistan is determined that the Mumbai incident should not be allowed to derail the peace process and this is what we also urge the Indian government."
Intelligence Bureau sleuths say the menace of fake currency is on the rise and there is a specific information that this money is being used extensively for terror operations.
IB sources told this correspondent earlier that Pakistan's Inter Services Intelligence raises Rs 1,800 crore (Rs 18 billion) annually to fund terror operations and that a major chunk of this amount comes in through fake currency rackets.
IB officials say Rs 30 lakh (Rs 3 million) of the Rs 50 lakh (Rs 5 million) spent on the attack on the Indian Institute of Science, Bangalore, in December 2005 was obtained through the fake currency racket.
Investigating agencies claim that the amount of fake currency in India is a shocking Rs 170,000 crore (Rs 17 trillion).
Reserve Bank of India [Get Quote] officials dispute this figure and say that as on July 2008, the total currency available with the Indian public was Rs 603,000 crore (Rs 63 trillion) and if what the IB is saying is true, then it would mean that 28 per cent of the currency in the country is fake.
The fact that fake currency is being generated with the ISI's blessings in Pakistan is no secret. IB dossiers suggest that the notes are printed in Pakistan and then transferred to Dubai. In Dubai, the money is collected by hawala operators and dumped in India.
All fake currency reaches Maharashtra first, according to investigators. This is because it is familiar terrain for fugitive gangster Dawood Ibrahim. His proximity with the ISI grew after he took over responsibility of pumping fake currency into India.
IB officials say while Dawood controls most of this racket, Aftab Bhakti, originally from Mumbai, and Babu Gaithan, from Hyderabad, take care of operations in Dubai. The duo are in charge of collecting the money and then transporting it to India. This money is transported through individuals travelling between Dubai and India.
Labourers, who go to Dubai in search of employment, are the usual targets. When they return to India to visit relatives, they are lured with incentives to carry the fake currency. The notes are covered in carbon paper and stashed in suitcases and covered with perfume, clothes and other goodies. IB sleuths say there have been instances where notes have been packed in photographic albums.
While a large chunk of the fake currency is sent from Dubai, a sizeable amount of money also comes in through India's borders with Bangladesh and Pakistan.
Majid Bilal, Harkat-ul-Jihad-al Islami terrorist Shahid Bilal's brother, during his interrogation, said that Pakistani agencies had made it compulsory for terrorists to carry fake currency into India each time they crossed the border. He said the point men were based in Uttar Pradesh, Rajasthan, Andhra Pradesh and Maharashtra. The fake money is exchanged for original notes on a 2:1 basis. The money generated is then passed onto various terror networks in India to fund operations.
Majid mentioned that Rs 5 crore (Rs 50 million) was spent on last year's Hyderabad blasts and all this money was generated through the distribution of fake currency.
Both RBI and IB sources say it is difficult to differentiate between real and fake currency notes.
But an RBI official says there are prominent differences between the real and fake notes.
In a fake note, the security thread or the silver bromide and the logo are hazy. The three watermarks on each note -- the Ashoka Pillar, Mahatma Gandhi's image, denomination and the words RBI -- are not as prominent compared to original notes. In the fake currency, the sprinkled blue dots are not visible when seen through ultra violet light. Lastly, the superimposed digits are not visible when seen horizontally.
RBI officials, who have closely observed fake notes printed in Pakistan, say:
There is a growing concern that more and more fake notes make their way into the Indian banking system. A bank official, speaking on condition of anonymity, explained that there are two ways in which such fake currency reaches banks.
Business establishments are targetted by the counterfeiters and the fake notes passed on to such entities in the course of business. The unsuspecting establishments innocently deposit the fake notes in the bank.
In some cases the perpetrators of the racket themselves deposit the fake cash, usually during peak hours and during busy periods like the festive season. Bank tellers, who are under tremendous pressure at these times, accept the notes without authenticating them.
While the RBI says that banks ought to be more careful and should have a fool-proof screening process, bankers say it is extremely difficult to keep a tab on every currency note.
Although the fake currency racket is a huge threat to the Indian economy, the conviction rate is a mere 6 per cent across the country. Explains R G Sadashiv Reddy, a senior advocate, "Such cases are incomplete unless the person, who originally floated the note, is caught. Usually, the case comes to light only when the fake currency has changed hands several times and there is no point in convicting a man who was last in possession of the notes."
Another hindrance is the law relating to such cases. An amendment to the Criminal Procedure Code now seeks to resolve this problem. This amendment proposes for the inclusion of more scientific experts to give evidence in cases relating to fake currency notes, in addition to officers of the Indian Mint or India Security Press, Nashik. Section 292 of the Criminal Procedure Code is proposed to be amended to enlarge the list of offices whose expert opinion on counterfeit currency can be considered as evidence.
By January 2009, the RBI proposes to withdraw all currency notes printed from 1996 and 2000. The RBI says that counterfeit notes are largely in the 1996 and 2000 series and hence it would be best to withdraw this series and introduce a new series of currency notes. The RBI says the new series will have enhanced security features. RBI officials, while understandably refusing to divulge the features, say these notes would be hard to copy.
The Central Bureau of Investigation plans to develop a national data bank of fake currency notes to help identify its origins.
Maruti Suzuki said on Wednesday it may consider production cut if the market does not improve.
The company, which has been negotiating contract manufacturing deal for its A-Star model with Nissan, also expects to start exports for the Japanese car maker by around February-March next year.
Maruti Suzuki India managing director Shinzo Nakanishi said that across the world there has been a slowdown in demand, including China, India and other BRIC countries.
"I hope not but if we are obliged then we will do it," he told reporters here when asked if the company would go for a production cut.
On the company's planned export of the A-Star for Nissan, an agreement on the volume has not been signed as yet but shipment to Europe is "expected by about February-March next year," he said.
"Our focus is on the network stocks. If the network stock is overflowing, then the company would take appropriate measure," he added.
In the April-November period, the company's sales growth witnessed a negative growth of three per cent compared with the corresponding period last year.
The income tax department has come out with a circular that redefines the term "charitable purpose", that is likely to bring associations like Confederation of Indian Industry or Ficci and Board of Control for Cricket in India, one of the world's richest sports bodies, outside the purview of exemptions.
The circular, which was published on December 19, now says any entity that does business or trade in exchange for a fee or income cannot claim exemption from paying income tax.
Many organisations avoid paying taxes by taking advantage of the definition under Section 2 (15) of the Income Tax Act, which defined "the advancement of any other object of general public utility" as a "charitable purpose".
The government moved an amendment in March 2008 to plug this loophole by tightening the definition of what constitutes a charitable purpose. After nine months, the tax department has now come out with a definition that will exclude commercial activities undertaken by entities like BCCI and industry associations like Confederation of Indian Industry, to name a few, from claiming exemption.
The tax rate will be 30 per cent plus cess and surcharges as applicable.
The Central Board of Direct Taxes had, in fact, constituted a committee to examine the taxability of BCCI earlier this year.
BCCI, registered under Section 12 (A) of the Income Tax Act as a trust, was availing of an income-tax exemption under Section 11 by claiming to be a charitable organisation. It had said the promotion of cricket is a public utility.
BCCI, however, may find it difficult to continue as a tax-exempted entity, especially after it launched the money-spinning tournament Indian Premier League this year. It may be asked to pay taxes on income from commercial activities like IPL, sale of television rights, tickets and advertisements from financial year 2008-09.
In 2007-08, BCCI earned a total income of Rs 1,000.41 crore and a surplus of Rs 303.15 crore. This fiscal, the board is likely to earn Rs 200-300 crore less because the Pakistan tour has been cancelled, said a BCCI official. Niranjan Shah, secretary of BCCI, declined to comment saying he needed to take a look at the circular.
Similarly, organisations like CII, Assocham and Indian Medical Association will have to pay taxes on income earned from rendering services to non-members. For example, if a hall belonging to an industry association is rented out to non-association members, this income would now attract tax.
However, the CBDT has provided some leeway to charitable entities that may be undertaking some incidental commercial activity to support public good like relief to the poor or medical relief.
In the event of a dispute, the tax department has retained the right to determine whether an activity is commercial in nature or not, based on facts, the circular said.
Olympic sprint champion Usain Bolt is aiming to break Michael Johnson’s 400 metres world record, which has withstood the efforts of the world’s best sprinters for nine years. “There are no major championships in 2010 so I could go for the 400 record that year. The training for 400 is so much harder, but I’m thinking about it,” Bolt said recently.
Spin bowler Pragyan Ojha was born on Teachers Day and his favourite festival is Holi although he hasn’t been able to celebrate it for the past three years owing to his cricketing travels. He is also an avid reader and his friend and fellow cricketer Robin Uthappa recently presented him with a copy of Robin Sharma’s book The Monk who sold his Ferrari.
Swimmer Michael Phelps is beginning to train again after a long lay off. He wants to return to the pool in Baltimore where he first learnt the sport. “You get different sorts of people there, not just professionals. Next to me you might have a baby in swimmer-diapers and in another lane you may see a little old lady taking her daily exercise — it’s fun,” he says.
Olympic bronze medallist, wrestler Sushil Kumar was the star attraction at the national wrestling championship which was held in the rural environs of Nawabganj in Uttar Pradesh. His gesture of coming all the way to a remote place and taking part in the competition gave the tournament a huge facelift.
Footballer Lionel Messi’s skills have drawn wide acclaim from his fellow players. “It is as if someone commands him from the stands, like in a video game,” said Everton player Mikel Arteta. “I have never seen a human run with the ball at that speed. I have not seen Diego Maradona so I cannot compare, but Messi is simply unbeatable.”
The order remanding 48-year-old Tiwari in judicial custody was passed by Chief Judicial Magistrate Samarpal Singh. The MLA will be lodged in Etawah jail.
Tight security arrangements were made in the court premises in the wake of violent protests against the killing of PDP engineer M K Gupta who was allegedly beaten to death by Tiwari and his associates after he turned down their demand for a huge sum for birthday celebration of Chief Minister Mayawati, a charge denied by the state government.
Slain Public Works Department (PWD) engineer MK Gupta's body bore 32 injury marks, while one hand was fractured. He had been given electric shocks, and his hair had been pulled out in clumps, the report revealed.
BSP legislator Shekhar Tiwari, who has been arrested for the murder, was presented at a court in Auriya district at noon Thursday.
Activists of the Opposition Samajwadi Party, which has called for a state wide shutdown on Thursday to protest the killing, were stopping trains at many places in the state. State government engineers have also called for a shutdown to protest the killing.
Tiwari was arrested Wednesday from Rania town in Kanpur (rural) district.
The state administration has said the incident had no connection with Mayawati.
The police are on the lookout for two more suspects named in the FIR (first information report) filed by the victim's wife Shashi Gupta.
The state police chief sought to term the incident as a "fallout of kickbacks in contracts in the PWD".
Tiwari and his musclemen had allegedly barged into Gupta's house around 2 am on Wednesday, locked up his wife in the bathroom and thrashed the engineer after stripping him.
Around 5 am, Tiwari carried a severely injured Gupta to the nearest police station and told the police to register a case against the engineer for "indulging in hooliganism".
The police, however, took him to hospital around 7 am where he was declared dead.
According to the victim's cousin Sharad Gupta, the engineer was under pressure to shell out a hefty amount for Mayawati's birthday celebrations.
"On earlier occasions too, Tiwari visited his house a number of times, demanding money. But my (cousin) brother expressed inability to give the money and his refusal led to this incident," Sharad Gupta told reporters.
He also said, "My cousin had apprised PWD Minister Naseemuddin Siddiqui about Shekhar Tiwari's oft-repeated demand for money, but nothing concrete was done to restrain the MLA."
Every year on January 15, the BSP supremo holds a big birthday bash and party leaders at various levels are reportedly directed to make their assigned contributions, a practice that Mayawati has openly admitted in the past.
To counter the campaign, Mayawati told reporters here that her party would observe her birthday on January 15 by organising huge rallies across the state against the Congress, BJP and Samajwadi Party's "wrong doings" during their rule in the State.
"Where is the need for a CBI probe when the state police, on my orders, have arrested all the accused in the case," Mayawati said at a crowded press conference a day after PWD engineer M K Gupta's murder - allegedly by BSP MLA Shekhar Tiwari - shook the state.
Quoting preliminary investigation reports, the BSP chief said it seemed that the prime cause of the murder was a tussle over the issuance of PWD contracts among the employees of the department.
"The charges against my party MLA will be probed. He has already been arrested and sent to jail. No other party has ever taken such stern action against their own members," she said.
In reply to questions, Mayawati acknowledged that the legislator, Tiwari, earlier belonged to the Congress party and "had a criminal past".
"When he wanted to join our party, we asked him about it. He said he was framed by the opposition parties. So, we told him to prove his innocence through his actions after he joined our party. We told him 'you will have to prove through your work'. Strict action will be taken if you are found to be doing the same things, we also told him. And we took strict action against him yesterday," she said.
Claiming that BSP had restored law and order in the state which was in shambles in the past, Mayawati said bureaucrats and engineers used to live in an atmosphere of fear when Samajwadi Party ruled the state. "Corruption and criminalisation of politics had become chronic then."
She said it was "criminal and highly condemnable" to link the engineer's murder to her birthday celebrations and alleged fund raising for that occasion.
Mayawati also charged the media with carrying out the Opposition's campaign "without any evidence" and said "if you have proof, those can be investigated. But if not, then you should apologise."
Describing the incident at Auraiya as "tragic", Mayawati blamed the Congress, BJP and Samajwadi Party for trying to take "political mileage" out of it, instead of condoling along with the grieving family.
Charging the Congress-led UPA, supported by SP, and the BJP-led NDA with being "the epitome of corruption", she said these opposition parties were so perturbed over their shrinking mass base, that they had no other issue against the BSP government but to link the engineer's murder to her birthday celebrations.
The Chief Minister accused the opposition parties of "dancing to the tunes of corporate houses and big business" and framing policies according to their diktats.
"The UPA Government's policies are made in the drawing rooms of corporate honchos. The stories of corruption of Samajwadi Party are on the lips of every citizen. Therefore, these parties should not open their mouths," Mayawati said, adding that these parties had been thoroughly exposed among the masses.
The BSP supremo said she had asked all her party legislators and MPs not to collect any fund for the upcoming general elections. "This job will be done by those in the party organisation," she stated.
Meanwhile, Samajwadi Party General Secretary Amar Singh said, "Mayawati is trying to eliminate Samajwadi Party workers and crush our agitation. She accepted her MLA's role in the PWD engineer's killing. She has also accepted that she takes money from the public."
Pakistan's army chief General Ashfaq Parvez Kayani has said Pakistani armed forces would give an "equal" response within few minutes if India carried out any surgical strike inside their territory.
Kayani said this at a meeting with President Asif Ali Zardari at the Aiwan-e-Sadr on Wednesday.
The Army chief apprised the President of operational preparedness of the armed forces.
"The armed forces are fully prepared to meet any eventuality, as his men are ready to sacrifice for their country," Pakistan daily The News quoted Gen Kayani as telling the President.
Zardari believed in gearing up efforts for peace, which should otherwise not be taken as a sign of weakness, the paper said.
He said, "Pakistan wanted peaceful and cordial relations with all its neighbours, but the threatening statements of Indian leadership were creating an atmosphere of aggression and harming the regional environment."
The President added, "We are keeping a close watch on all the latest developments and threatening tones of Indian leadership."
He said all the national security agencies, the army, political leadership and public were completely united to befittingly meet any aggression against Pakistan.
"Islamabad is in touch with all friendly countries, which were being briefed about Pakistan's peace efforts and the hostility shown by India."
"We do not want any war with India, as that would prove detrimental to both our nations," the President was quoted as saying.
Zardari, however, expressed his satisfaction over the preparedness of the Army and said all necessary resources would be provided to the armed forces. He said, "We have the right to defend our borders in case of any aggression."
Meanwhile, Pakistan's Prime Minister, Yousaf Raza Gilani said he believed that Dr Manmohan Singh was under pressure, but that Pakistan now wants the international community to urge India to defuse the hostile environment.
"I think there is tremendous pressure of the public on him (Dr Manmohan Singh) otherwise we had good working relations with each other. We also urge the world to to convince India that they should diffuse the situation which is at the moment," Gilani stated.
